$SOL

Below is the latest technical analysis of Solana (SOL):

Current trend:

SOL is trading in a short-term downtrend, with the current price at $167.43, down 5.91% from the previous closing price. The price has dropped more than 9% for three consecutive days, especially after the U.S. Securities and Exchange Commission (SEC) approved ETF filings for XRP and DOGE, causing investor attention to shift.

Support and resistance levels:

- Support: $161.60

- Resistance: $178.03

A price drop below the support level of $161.60 could lead to a deeper downtrend, while breaking through the resistance level of $178.03 may open up bullish opportunities.

Technical indicators:

- RSI: The current RSI indicates that SOL is approaching the oversold territory, suggesting a potential short-term rebound.

- MACD: The MACD line is below the signal line, indicating that selling pressure still prevails.

Conclusion:

SOL is in a corrective phase, with technical indicators suggesting a potential continuation of the decline in the short term. Traders should closely monitor key support and resistance levels, along with technical indicators, to make informed trading decisions.

*Note: The analysis above is for reference only and is not investment advice. The cryptocurrency market is highly volatile; investors should exercise caution and conduct their own research before making decisions.*